TUC, firm sign N200b project

Rock of Ages Property Limited, a subsidiary of Chikason Group, a wholly owned Nigeria conglomerate in manufacturing, mining, oil and gas in Vienna and other countries, has entered into agreement with the Trade Union Congress (TUC) to build 100,000 houses in Abuja, Lagos, and other parts of the federation.

The initial 20,000 housing units comprising two,three and four- bedroom units of bungalows, semi-detached bungalows and apartment blocks will be built in Lugbe and Dei Dei in Abuja within the next six months through a Special Purpose Vehicle called United Workers Housing Scheme under the Rock City Project.

An Executive Director of the group, Mr. Adike Chux told The Nation that the remaining 80,000units would be spread across the states based on arrangement between the TUC and the various state governments. He said the project was designed to check the challenges faced by private and public servant workers in securing decent accommodation in many states, especially in Abuja, Lagos and other major cities.

On the modalities to subscribing to the houses, he explained that what a contributor needs is to fill a form and pay an initial 10 per cent of the cost of the house to obtain a provincial offer while the balance would be paid in 20 years.

He commended the TUC and the government for the initiative and their wisdom in partnering with the private sector, especially those with track record in the sector.

He hailed the mortgage refinance programme of the government which he said will be an elixir to home ownership against the position where many people are not properly accommodated.